Nigeria Revokes Eleven Oil Licenses (See Their Names)

Posted by E.L.E.X on April 07 2020 under News

The Nigerian Government has revoked Oil Mining Licences (OML) of 11 oil and gas companies operating in the Marginal Fields.

The Guardian learnt that the affected companies include Movido–Ekeh, Goland – Otiti, Independent Energy – Ofa, Associated-Tom Shot Bank, Bayelsa – Ayala, Sogenal – Akeni and Delsigma–Ke.

Others are Bicta–Ogedeh, Guarantee–Ororo, Eurafic-Dawes Island and Sahara–Tsekelewu.

While The Guardian learnt that the companies were served letters on Monday to hands-off the asset, a spokesperson for Department of Petroleum Resources, Paul Osu, who did not directly confirm the development, requesting a time to establish the truth, justified any decision to terminate the licenses, stressing that the companies have been offered enough time to turn the assets around.

Osu insisted that should the Federal Government revoke the licence, it was in the best interest of Nigerians, particularly as there were needs to derive maximum value from available resources.

Nigeria Revokes Eleven Oil Licenses (See Their Names)

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